SoFi Technologies (NASDAQ:SOFI) Trading Down 0.8%

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price fell 0.8% during trading on Monday . The company traded as low as $6.55 and last traded at $6.56. 4,935,966 shares were traded during mid-day trading, a decline of 90% from the average session volume of 47,637,660 shares. The stock had previously closed at $6.61.

Analysts Set New Price Targets

A number of research firms recently commented on SOFI. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price target on shares of SoFi Technologies in a report on Tuesday. Keefe, Bruyette & Woods raised shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $6.50 to $7.50 in a report on Friday, April 5th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, April 30th. Wedbush reissued an “underperform” rating and set a $3.00 target price on shares of SoFi Technologies in a report on Tuesday, April 30th. Finally, Jefferies Financial Group lowered their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $9.32.

SoFi Technologies Price Performance

The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24. The firm has a market capitalization of $6.82 billion, a P/E ratio of -20.81, a P/E/G ratio of 1.53 and a beta of 1.70. The firm’s 50 day simple moving average is $6.90 and its two-hundred day simple moving average is $7.65.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The business had revenue of $580.60 million during the quarter, compared to the consensus estimate of $555.27 million. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.10%. The firm’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.05) earnings per share. As a group, analysts predict that SoFi Technologies, Inc. will post 0.08 earnings per share for the current year.

Insider Activity

In other news, CEO Anthony Noto acquired 28,900 shares of the stock in a transaction dated Thursday, May 23rd. The stock was purchased at an average cost of $6.92 per share, with a total value of $199,988.00. Following the completion of the purchase, the chief executive officer now owns 8,062,269 shares in the company, valued at approximately $55,790,901.48. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Anthony Noto purchased 28,900 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was bought at an average cost of $6.92 per share, with a total value of $199,988.00. Following the completion of the purchase, the chief executive officer now directly owns 8,062,269 shares in the company, valued at $55,790,901.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Qatar Investment Authority sold 19,840,073 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $6.78, for a total transaction of $134,515,694.94. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 88,390 shares of company stock valued at $597,569. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

A number of institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC purchased a new stake in SoFi Technologies in the fourth quarter worth about $27,000. ORG Partners LLC purchased a new stake in SoFi Technologies in the first quarter worth about $27,000. Westside Investment Management Inc. grew its holdings in SoFi Technologies by 93.8% in the fourth quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock worth $31,000 after purchasing an additional 1,500 shares during the period. SOA Wealth Advisors LLC. grew its holdings in SoFi Technologies by 61.2% in the first quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock worth $33,000 after purchasing an additional 1,713 shares during the period. Finally, Future Financial Wealth Managment LLC purchased a new stake in SoFi Technologies in the first quarter worth about $37,000. 38.43% of the stock is owned by institutional investors.

SoFi Technologies Company Profile

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.